Car insurance is a wide concept includes several policies to
ensure the security of the motorists and the cars. Since the car own
ers are different in nature from different perspectives such
as they have different financial capabilities, different professions, different
cars and different security policies, hence they should have different
insurance policies. And, hence their
car insurance coverage should cover different criteria.
Based on these criteria, they can choose the best financial security policies
that is insurance such as insurance for his own and insurance for his car! The
two main
car insurance coverage
zones are insurance for the liability of bodily injury and insurance for
liability of property damages. The bodily injury issue for insurance refers to
that situation where a motorist or car driver is seriously harmed or partially
lost his physical organs. This insurance is offered for the medical support for
the victim motorist and is applicable for both victim and liable person
regardless of whoever is responsible for the accident.
On the other hand,
property damage issue for insurance is related to that situation where
responsible pays the money for damaging another person’s car or property. The
minimum amount of insurance, known as premium is determined by the state
authority, however, anyone may budget higher amount. The first one which is
institutionally known as PIP abbreviated as Personal-Injury-Protection covers 4
criteria such as rehabilitation's lost earnings, replacements for services and
funeral expenses. It covers necessary medical expenses as determined during
buying the policy. Often, this insurance covers the funeral expenses. If you
are the responsible for the accident and police identify you, then you may have
to pay a huge amount of money. Auto insurance secures your financial situation
so that if you got the insurance, then you wouldn't have to pay the money from
your pocket. Rather, the company would pay on behalf of you since you bought
the insurance. This applies on following three conditions such as collision
with other vehicle, collision with object and vehicle rollover.In general, the
auto insurance covers the following categories such as liability coverage,
vanishing deductible, uninsured motorist insurance, collision coverage, uninsured-motorist-insurance,
medical-payment-coverage, gap insurance, accident-forgiveness, roadside
assistance, towing & labor insurance, rental-reimbursement-insurance etc.
This article is discussing about the rare and specialized car insurance
policies such as vanishing deductible and under insured motorist-insurance.
Vanishing deductible refers to that policy where a safer driver is rewarded at
certain amount. The under insured motorist-insurance covers those drivers who
don’t have enough amount of money or whose insurance policy is not adequate to
support him in paying for other’s loss. Accident forgiveness policy helps you
to avoid high repay due to the liability of an accident. GAP insurance protects
your from troubles when you owe a huge amount of money to the car lender and in
the meantime you made an accident but can’t afford it! Towing & labor
insurance covers the expenditure to repair your car and make it running. The optional
insurance policy which is little interesting is the roadside assistance which
proves helpful when you are out of money and your car is out of gas in the
road!
